GVR Report cover Recycled Polyethylene Terephthalate Market Size, Share & Trends Report

Recycled Polyethylene Terephthalate Market Size, Share & Trends Analysis Report By Product (Clear, Colored), By End-use (Fiber, Sheet & Film, Strapping), By Region (Asia Pacific, North America), And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-938-8
  • Number of Pages: 107
  • Format: Electronic (PDF)

Report Overview

The global recycled polyethylene terephthalate market size was estimated at USD 10.1 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2023 to 2030 . The growth of the market can be attributed to rising sustainability measures undertaken by food & beverage and packaging companies. Growing efforts for a circular economy by end-users and increasing adoption of recycled plastics in the packaging, textiles, and other end-use industries are also anticipated to drive the demand for recycled polyethylene terephthalate (PET) during the forecast period. Furthermore, recycled polyethylene terephthalate (rPET) is used for developing both, colored and clear (white/non-colored) products.

U.S. Recycled Polyethylene Terephthalate Market size and growth rate, 2023 - 2030

However, clear rPET products are the most sought after by both, recyclers and end-use industries owing to their lower costs than colored rPET products. Colored rPET is preferred by packaging product and bottle manufacturers as it gives them brand identity and ensures the development of products with improved aesthetics. According to the U.S. Environmental Protection Agency, single-use plastics constitute 50% of the total plastic demand in the country. The plastic recycling rate in the U.S. is low as the plastic waste generated is exported to other countries for recycling. After the recent ban on plastic waste imports in China, the U.S. is exporting its plastic waste to Southeast Asian countries.

Companies, such as Adidas America Inc., Allbirds, Inc., Everlane, Patagonia, Inc., and Nike, Inc., are some of the potential customers of rPET in the country. In addition, the rising demand for electric vehicles (EVs) in the country is likely to augment the need for lightweight and durable plastic components to enhance vehicle efficiency. This, in turn, is projected to propel the product demand over the forecast period. The U.S. has a robust automobile manufacturing sector, which paves the way for increased demand for rPET bumpers, mattresses, and other auto components from OEMs. In addition, rPET is heavily used in the production of sofa covers, mattresses, and textiles in the U.S.

Type Insights

The clear rPET segment led the market with a revenue share of 76.22% in 2022 owing to its durability, lightweight, non-reactive nature, and shatterproof properties. Moreover, low energy requirements and ease of bottle-to-bottle recycling are expected to drive the growth. Clear rPET resists the growth of fungi, mold, and bacteria. It is commonly used in the packaging of food, beverage bottling, cosmetics, pharmaceuticals, and electronics. Asia Pacific accounted for a high market share owing to significant investments in recycling facilities in China over the past ten years. The high production capacity of rPET flakes in China, coupled with the lower cost of production, have been significant factors driving the market growth in the region. Asia Pacific is expected to record the highest CAGR over the forecast period, followed by North America and Europe.

The colored segment will register a CAGR of 8.7%from 2023 to 2030. Major end-use areas of colored rPET are automotive trays, in-process protective packaging, electronics & electrical packaging, containers, transit trays, healthcare packaging, and other plastic trays. Colored rPET is used in the production of fabrics & clothing and various packaging end-uses. Colored rPET has been gaining prominence among various food and non-food beverage manufacturers due to its ability to add a striking visual. In addition, colored packaging helps in brand differentiation and imparts a unique look. Recent trends in the market have shown that milk and personal care packaging manufacturers are shifting from HDPE to colored rPET to cut down on costs and move toward sustainability.

End-use Insights

The fiber segment accounted for the largest revenue share of 39.80% in 2022. Various types of clothing, such as t-shirts and jackets, use fiber produced from rPET. It is also used in the manufacturing of automobile seat covers, sofa & chair seat covers, and carpets. The low production cost of clothing along with favorable government regulations are expected to drive the demand for rPET. Increasing investments in sports activities globally are augmenting the growth of the sports clothing & accessories market, which, in turn, are expected to drive the demand for recycled PET fibers. Jerseys for sports teams are the most common type of products manufactured using rPET fiber. The demand for jerseys has witnessed a strong growth in Asia Pacific over the past 10 years owing to increased sports activities in the region, especially in China and India.

Global Recycled Polyethylene Terephthalate Market share and size, 2022

The food & beverage containers & bottles segment will register a CAGR of 8.8% from 2023 to 2030. Increasing usage of food containers in emerging economies of Asia Pacific, Middle East, and Central & South America is expected to drive the product demand in sheet & film end-uses. These containers offer thermal insulation and aesthetic appeal to stored products. Microwave-safe containers are paving the way for the growth of the sheet & film segment. Customers in developed countries prefer microwave-compatible food containers to save preparation time. These containers are commonly used in offices as they are heat-resistant, which saves time.The demand for sheets and films in roof flooring is increasing as they help limit leakage and save buildings from extremely high and low temperatures.

They also give a smooth texture to the roof and require less quantity of paint and cement to achieve the finished look with improved aesthetic appeal. The growing goods transportation market, coupled with the high tensile strength of rPET straps, is expected to fuel the product demand. The strap is commonly used for packaging, bundling, and banding goods to combine, stabilize, reinforce, hold, and fasten the products and reduce the risk of damage during transportation. Recycled PET strap does not damage or contaminate packaging goods, has high shock absorption, puts less pressure on the edges of packages, retains strap tension despite the shrinking of packages, and can be handled easily.

Regional Insights

Asia Pacific dominated the market and accounted for a revenue share of over 44.0% in 2022. The regional market is characterized by the presence of several players. The market in the Asia Pacific region is characterized by the availability of a significant amount of skilled labor at low cost and the easy availability of land. The shift in the production landscape toward emerging economies, particularly China and India, is expected to positively influence the market growth over the forecast period. The region is home to several rapidly expanding industries, such as construction, automotive, and electronics, that present vast potential for rPET manufacturers.

Recycled Polyethylene Terephthalate Market Trends, by Region, 2023 - 2030

The market in China is well-established; however, the import ban on plastic waste is expected to hamper its growth. China was the largest importer of plastic waste in the world before the ban in December 2018. Citing environmental and health concerns at the World Trade Organization in July 2017, the country announced that it is going to stop the import of 24 types of waste, 5 of which were different types of plastic. This has redirected plastic waste to Southeast Asian countries in huge quantities, which has compelled the recyclers in China to relocate to Southeast Asian countries. Thus, the ban is anticipated to negatively impact the market growth in the country in the coming years.

Key Companies & Market Share Insights

Major players have integrated their raw material production and distribution operations, ensuring product quality and expanding their regional presence. This strategic move grants them a competitive edge by lowering costs and boosting profit margins. To remain at the forefront, these companies are actively engaging in R&D, developing innovative products that meet evolving market demands and end-user requirements. On April 26, 2023, Biffa announced the acquisition of Esterpet Ltd, a North Yorkshire-based PET recycling firm, to strengthen its PET recycling division. Furthermore, on March 16, 2023, the company signed a purchase agreement to commence mass production of recycled PET materials in Asia Pacific with Shuye Electronics Co. Ltd., a China-based company. Research activities focused on new materials, which combine several properties, are projected to gain wide acceptance in this industry in the coming years. Some of the prominent players in the global recycled polyethylene terephthalate market are:

  • Placon

  • Clear Path Recycling LLC

  • Verdeco Recycling, Inc.

  • Indorama Ventures Public Ltd.

  • Zhejiang Anshun Pettechs Fibre Co., Ltd.

  • PolyQuest

  • Evergreen Plastics, Inc.

  • Phoenix Technologies

  • Libolon

  • Biffa

Recycled Polyethylene Terephthalate Market Report Scope 

Report Attribute


Market size value in 2023

USD 10.7 billion

Revenue forecast in 2030

USD 18.7 billion

Growth rate

CAGR of 8.3% from 2023 to 2030

Base year for estimation


Historical data

2018 - 2021

Forecast period

2023 - 2030

Report updated

August 2023

Quantitative units

Volume in Kilotons, Revenue in USD Million/Billion, and CAGR from 2023 to 2030

Report coverage

Revenue and volume forecast, company profiles, competitive landscape, growth factors, and trends

Segments covered

Product, end-use, region

Region scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; Sweden; UK; Italy; France; Spain; Poland; China; Japan; India; South Korea; Australia; Malaysia; Singapore; Thailand; Vietnam; Brazil; Argentina; Saudi Arabia; United Arab Emirates (UAE); South Africa

Key companies profiled

Placon; Clear Path Recycling LLC; Verdeco Recycling, Inc.; Indorama Ventures Public, Ltd.; Zhejiang Anshun Pettechs Fibre Co., Ltd.; PolyQuest; Evergreen Plastics, Inc.; Phoenix Technologies; Libolon; Biffa

Customization scope

Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope.

Pricing and purchase options

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Global Recycled Polyethylene Terephthalate Market Report Segmentation

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2023 to 2030. For this study, Grand View Research has segmented the global recycled polyethylene terephthalate market report on the basis of product, end-use, and regions:

Global Recycled Polyethylene Terephthalate Market Report Segmentation

  • Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Clear

    • Colored

  • End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • Fiber

    • Sheet & Film

    • Strapping

    • Food & Beverage Containers & Bottles

    • Non-food Containers & Bottles

    • Others

  • Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • Sweden

      • UK

      • Italy

      • France

      • Spain

      • Poland

    • Asia Pacific

      • China

      • Japan

      • India

      • South Korea

      • Australia

      • Malaysia

      • Singapore

      • Thailand

      • Vietnam

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • Saudi Arabia

      • United Arab Emirates (UAE)

      • South Africa

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